Boustead Singapore expects lower earnings for FY2018

Depressed energy, property sectors to continue to weigh on business, but group is in good position for acquisition opportunities: CEO

Published Tue, May 23, 2017 · 09:50 PM

Singapore

OIL and gas worries and a challenging Singapore industrial real estate market might continue to affect earnings at technology and engineering group Boustead Singapore.

The group said on Tuesday that it expects to be profitable for FY2018 ending March 31, 2018, but the level of profit "may not match" that of FY2017. This is due to the current macroeconomic environment, and also because its results for FY2017 were boosted by significant one-off gains.

However, the company has a healthy balance sheet and fundamentally sound businesses that allow it to weather a challenging period, said Boustead chairman and chief executiv…

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